SAO PAULO, Jan 8 (Reuters) - Marcelo Kayath has left Credit Suisse Group AG after almost two decades in senior positions at the Swiss bank’s investment banking and securities divisions in Brazil and Latin America, two sources with knowledge of the situation said on Friday.
None of the sources gave the reason for the departure of Kayath, 52, who last year was made a managing director for Credit Suisse in Brazil. Before that, he led fixed-income and equity sales and trading for Latin America for Credit Suisse, from the bank’s São Paulo office.
Efforts to contact Kayath were unsuccessful. Press representatives for Credit Suisse did not immediately respond to requests for comment.
The sources did not say who might replace Kayath, who helped oversee a boom in Brazilian initial public offerings last decade. Credit Suisse underwrote more than 60 Brazilian IPOs between 2005 and 2012, raising a combined $17 billion, the biggest volume for any bank in the country in that period, the bank said on its website.
A renowned classical guitar player in his native Brazil, Kayath studied electrical engineering and obtained a degree in finance from Stanford University. He began his financial industry career at investment bank Banco Garantia SA in the mid-1990s.
When Credit Suisse bought Garantia in 1998, Kayath rose through the ranks, eventually becoming head of equity research, co-head of investment banking in Brazil and head of Latin American securities. (Reporting by Guillermo Parra-Bernal; Editing by Peter Cooney)